PTAD pays N9.47bn BEC arrears to 3,958 PHCN pensioners

The Pension Transitional Arrangement Directorate (PTAD) has disbursed N9.47 billion to 3,958 PHCN pensioners under the Defined Benefit Scheme (DBS).

Olugbenga Ajayi, PTAD’s Head of Corporate Communications, disclosed this in a statement on Thursday in Abuja.

Ajayi said the payment represented the outstanding 50 per cent balance of arrears arising from the Back-End Computation (BEC).

He said PTAD had earlier paid N9.48 billion to the same pensioners in June, representing the first 50 per cent tranche.

According to him, the latest payment brings total disbursements to the affected pensioners to N18.96 billion.

He said the payment marked a significant milestone in resolving outstanding pension liabilities owed to PHCN pensioners.

He quoted the Executive Secretary of PTAD, Tolulope Odunaiya, as reiterating the agency’s commitment to ensuring eligible DBS pensioners receive their legitimate entitlements.

Odunaiya said that the Federal Government remained committed to protecting the welfare, dignity and well-being of pensioners.

She said that PTAD would continue to address outstanding pension liabilities to ensure retirees receive benefits due to them.

The Executive Secretary said that the sacrifices and meritorious services of Nigeria’s senior citizens would continue to be recognised and honoured.

She added that the administration of President Bola Tinubu remained committed to initiatives promoting a more dignified and secure retirement.